Free Trial

USD/JPY came under sell pressure in......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: USD/JPY came under sell pressure in early Asia on early risk
aversion trade, added to by talk that the Japanese Government Pension Investment
Fund has initiated currency hedging for its overseas investments. The rate eased
from Y108.70 to a low of Y108.42 before it steadily recovered through the
balance of the session and into Europe, currently around Y108.64.
- No reaction was noted to Japanese retail sales numbers, which topped
expectations despite indicating a slowdown, both on a Y/Y and M/M basis.
- Support Y108.42 ahead of reported support at Y108.30. Resistance Y108.70 ahead
of Y108.80/85. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.